Ekornes at full speed – historically good result

Posted On Ekornes delivers the most successful first quarter in the company’s history

Ekornes delivers the most successful first quarter in the company’s history, and has a strong opening of 2010.  The Group has an operating result of NOK 155 million, and a pre-tax result of NOK 154 million.

- The employees deserve the credit for this fantastic result.  They have rolled up their sleeves in an uncertain economical time, and now we will reap the fruits, says CEO Øyvind Tørlen of Ekornes. 

2010 started well for Ekornes - the turnover in the first quarter was NOK 785 million, which is an increase of more than NOK 90 million compared to 2009. Profitability during the first months was high, and the operating margin was at 19 percent, compared to 15 percent during the same period last year.  

The sales the US market were particularly positive for Ekornes in 2010.  Figures for this market have shown significant improvement, and are 28 percent higher than during first quarter 2009. 

- We are extremely satisfied with the strong improvement shown by the US market.  This is a discerning market and we are pleased to see that the Americans now demand Ekornes again, says Øyvind Tørlen. 

There is still uncertainty attached to the world’s economics.  Ekornes is well equipped to face both challenging markets and competent competitors in the future. 

The order influx for Ekornes is about the same level as last year.  The Group has a high order reserve of NOK 390 million at the end of April, compared to NOK 306 million at the same time last year.  

- This means that Ekornes factories will work at full speed towards the summer vacation, says CEO Øyvind Tørlen of Ekornes.  

Ekornes ASA is the largest furniture manufacturer in the Nordic countries, and has its head office at Ikornnes in Sykkylven.  The group has approx. 1550 employees, 1350 of who work in Norway.  Ekornes has six factories in Norway.